WASHINGTON -- Booz Allen Ventures, the venture capital arm of consulting giant Booz Allen Hamilton, announced on November 13 a strategic investment in space technology startup Starfish Space, marking its latest move to expand its footprint in the growing space services sector.
The investment, whose terms were not disclosed, comes from Booz Allen's $100 million venture fund launched in 2022. It represents the fund's third space-focused investment and eleventh overall across defense, artificial intelligence, and cybersecurity sectors.
Starfish Space, founded by former Blue Origin and NASA engineers, develops autonomous satellite servicing vehicles for extending satellite lifespans and removing space debris. The company has gained traction recently, securing a $37.5 million U.S. Space Force contract and deals with commercial satellite operator Intelsat and NASA.
"This investment aims to strengthen the resilience and sustainability of space infrastructure through innovative offerings for both government and commercial mission sets," said Chris Bogdan, executive vice president at Booz Allen and leader of the firm's space business.
The investment reflects a trend among defense contractors to pursue strategic investments in space startups, seeking both financial returns and technological advantages in an increasingly competitive market.
The satellite servicing market is projected to grow as operators seek to extend the life of their assets and address the mounting challenge of space debris.
Booz Allen's previous space investments include Albedo, which develops low-flying satellites for high-resolution Earth observation, and Quindar, a company automating satellite fleet management operations.